Being an entrepreneur is one of the hardest yet most rewarding experiences of a person’s career. There’s the allure of being your own boss, unlimited earning potential, and creating the business that you envisioned in your head. Yet according to greyjournal.net, around 10,000 businesses start up each year in the United States and 80% of them fail in the first year because they aren’t prepared.
If you’ve embarked on the entrepreneurial journey, you don’t want to fall victim to this statistic. Here are 6 deadly mistakes entrepreneurs make and how to avoid them.
Mistake #1: Trying to do everything by yourself
Mistake #2: Selling based on facts and not emotions
Mistake #3: Not knowing your target audience and thinking that you can sell to everyone
Mistake #4 Giving in to the fear of failure
Mistake #5: Not being aware of the competition
Mistake #6 Undervaluing your product or service